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Shirlington Gateway Trades for $63M

ARLINGTON, VA-Among the positive messages this sale will send the market is the viability of the I-395 Corridor in the aftermath of the BRAC realignment.

By Erika Morphy | Updated on March 27, 2008

ARLINGTON, VA-A 206,992-sf office building in the Shirlington neighborhood has closed for $62.5 million, or $302 per sf. Paul Collins, Bill Collins, Drew Flood and James Cassidy of Cassidy & Pinkard Colliers represented the seller, Federal Capital Partners. Choi Cos. LLC is the new owner of the class A building located at 2800 Shirlington Rd.

According to Paul Collins, the 95% occupied building traded at a 6% cap rate. The price had been negotiated by the end of last year; however, with the turmoil in the capital markets it took longer than expected to get the necessary financing in place.

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